After Non-O extension is granted, can I withdraw my 800k?

[DrJack54]

4 minutes ago, bolt said:

I did say 'I'm not talking about what you need to live on, but to comply ONLY"

I realize that.

However what's the point importing then exporting dosh when you need money to live on. BTW thinking money to live on, in many cases that would be more than 65k/month.

[bolt]

8 minutes ago, DrJack54 said:

I realize that.

However what's the point importing then exporting dosh when you need money to live on. BTW thinking money to live on, in many cases that would be more than 65k/month.

The recycle method works for some people who are unable to afford to send 65K or have 800=400 stuck in a Thai bank

Recycling gives them an option of keeping the visa valid.

And at the same time you can invest your money in other countries where you can get more growt,

 

I don't know anyone who is happy having 400-800k without any growth

[skatewash]

On 9/4/2021 at 2:35 AM, Salerno said:

Yes, no downside.

 

  

Don't need to do anything, just don't get a reentry permit.

You also need to make sure that you won't be re-entering Thailand with a Non-OA visa that hasn't expired yet.  If you enter on a non-expired Non-OA visa, you will be granted a year permission to stay but with the onerous health insurance requirements.  If your Non-OA visa has expired already and you are on an extension of stay based off a non-OA visa, then yes just leave Thailand without a re-entry permit and then you can re-enter Thailand on another visa or even visa-exempt.  Obtain your Non-O visa in Thailand and extend that without the health insurance requirements.

[DrJack54]

4 minutes ago, bolt said:

The recycle method works for some people who are unable to afford to send 65K

How do they live. Simple question.

[bolt]

1 minute ago, DrJack54 said:

How do they live. Simple question.

some of them live on 35-40k per month, i wont comment of this, Up 2 Them

they transfer money in and out the same money 35k Twice per month

[Salerno]

3 minutes ago, skatewash said:

You also need to make sure that you won't be re-entering Thailand with a Non-OA visa that hasn't expired yet.

Good point; but they wouldn't stamp you in without insurance would they so you'd just get visa exempt or not? (Never been on OA so no idea how they handle it at arrivals?)

[Lite Beer]

9 minutes ago, bolt said:

some of them live on 35-40k per month, i wont comment of this, Up 2 Them

they transfer money in and out the same money 35k Twice per month

35K a month is more than enough to have a good life.

[bolt]

9 minutes ago, Salerno said:

Good point; but they wouldn't stamp you in without insurance would they so you'd just get visa exempt or not? (Never been on OA so no idea how they handle it at arrivals?)

I have a OA and confused, i have never been asked about insurance at immigration, ever

[skatewash]

7 minutes ago, Salerno said:

Good point; but they wouldn't stamp you in without insurance would they so you'd just get visa exempt or not? (Never been on OA so no idea how they handle it at arrivals?)

I'm not sure either.  I would just check that my Non-OA visa expires (the "enter before" date has passed) before I re-enter Thailand, and if it wouldn't expire I would try to get an answer from immigration before leaving Thailand.

I've never had a non-OA either so not sure how it would be handled on entry if you didn't have the insurance.  Hopefully, you would just get stamped in with a visa-exempt, but I wouldn't want to risk.

[Salerno]

1 minute ago, bolt said:

I have a OA and confused, i have never been asked about insurance at immigration, ever

As mentioned, never been on one but since covid it's been mentioned often that you only get stamped in for as long as your insurance policy covers. Until this thread, how it worked at the border never entered my mind.

[DrJack54]

1 minute ago, bolt said:

I have a OA and confused, i have never been asked about insurance at immigration, ever

Are you referring to immigration for extensions retirement.

Extensions based on marriage do not require insurance.

 

Think Phuket is one place that does not require insurance for O-A Extension retirement.

 

[skatewash]

2 minutes ago, bolt said:

I have a OA and confused, i have never been asked about insurance at immigration, ever

Do you use Phuket Immigration?

I ask because Phuket Immigration adopted a policy where they don't ask about the insurance under certain circumstances (almost like grandfathering people who have the Non-OA from before the insurance requirement came into effect).

[Exploring Thailand]

On 9/5/2021 at 1:45 AM, Jonathan Swift said:

I use the alternate monthly income method which ties up much less. I simply transfer from my US bank to the same Thai bank account 65,000 - 67,000 baht, depending on exchange rate, on appx the same date every month. As long as that deposit shows every month to verify the monthly income requirements I qualify for my non O 1 year extension. I have done this 3 times now, since they stopped accepting the verification affidavit from embassies. . My social security income is $1400 US per month, so I have to earmark about $700 to add to that before I make the transfer of one lump sum in the correct amount. 

Isn't there any requirement that you have documents proving that the income is from sort of pension? I've read differing opinions on this.

 

I seem to remember reading that some people wanted to use the 65k method  by transferring non-pension funds every month, but they ran into some kind of problem, maybe I'm mistaken.

[flexomike]

17 minutes ago, Lite Beer said:

35K a month is more than enough to have a good life.

not if you have a Thai wife - 555

[skatewash]

33 minutes ago, Exploring Thailand said:

Isn't there any requirement that you have documents proving that the income is from sort of pension? I've read differing opinions on this.

 

I seem to remember reading that some people wanted to use the 65k method  by transferring non-pension funds every month, but they ran into some kind of problem, maybe I'm mistaken.

Yes, I heard similar and it was enough to dissuade me from pursuing the monthly-deposit method.  That and the effort required to make sure deposits were made and coded correctly every single month.

[david555]

On 9/4/2021 at 9:49 AM, Gsxrnz said:

Withdraw the money as you wish.  On your next extension date just use an agent and pay the 15-20K fee to get it extended. Do the 90 day reports online or in person, up to you.  Don't bother going to show them your "money in the bank" proof every 3 months that Chonburi and others ask for, it's not necessary - I haven't bothered since they introduced it and no problems.

Chonburi/Jomtien Immigr. Ask only 1 time after 3 month's a money checking ..!! Do not frightening him more than needed ...Jomtien is not EVERY 3 months asking so 

 

(agents publicity marketing ..nah...????? )

Edited September 7, 2021 by david555

[david555]

3 hours ago, bolt said:

The recycle method works for some people who are unable to afford to send 65K or have 800=400 stuck in a Thai bank

Recycling gives them an option of keeping the visa valid.

And at the same time you can invest your money in other countries where you can get more growt,

 

I don't know anyone who is happy having 400-800k without any growth

(I don't know anyone who is happy having 400-800k without any growth )

 

Sorry speak  for yourself .... you forgot me ???? (and many other ones who have the 800K...???? )..... i can live happy with that % from KK which is even more than what i can get in my home country banks .....equal to U.K. banks .... please don't mention the "coins " as that is classified by me under gambling ...????

 

I see it as nice reserve money , saves me the agents fee + the % and  full legal to I.O.  and a yearly  5 minutes job + bank letter time , and not in hands of I.O.present and future time (as your bank records are not wiped out guy's..... , never forget that  , when there is a problem they can easy use your history against you ????, you are  the end line to be at fault  if "sh...t hit the fan "

 

But each at their own to do .... fair enough 

Edited September 7, 2021 by david555

[bolt]

3 minutes ago, david555 said:

(I don't know anyone who is happy having 400-800k without any growth )

 

Sorry speak  for yourself .... you forgot me ???? (and many other ones who have the 800K...???? )..... i can live with that % from KK which is even more than what i can get in my home country banks .....equal to U.K. banks .... please don't mention the "coins " as that is classified by me under gambling ...????

 

I see it as nice reserve money , saves me the agents fee + the % and  full legal to I.O.  and a yearly  5 minutes job + bank letter time , and not in hands of I.O.present and future time (as your bank records are not wiped out guy's....., never forget that  , when there is a problem they can easy use your history against you ????, you are  the end line to be at fault if "sh...t hit the fan "

 

But each at their own to do .... fair enough 

Sorry I disagree

If you can’t get your money to grow more than 4% then it’s a waste.

People who use piece of mind are deluded, there’s plenty of ways to earn more than 4% with ZERO risk.

[david555]

Just now, bolt said:

Sorry I disagree

If you can’t get your money to grow more than 4% then it’s a waste.

People who use piece of mind are deluded, there’s plenty of ways to earn more than 4% with ZERO risk.

You are free to disagree , as i am with yours ????

[Lite Beer]

2 hours ago, flexomike said:

not if you have a Thai wife - 555

It is if your Thai Wife works and chips in with the expenses.

Maybe you need a new Wife.

[Jingthing]

2 hours ago, Exploring Thailand said:

Isn't there any requirement that you have documents proving that the income is from sort of pension? I've read differing opinions on this.

 

I seem to remember reading that some people wanted to use the 65k method  by transferring non-pension funds every month, but they ran into some kind of problem, maybe I'm mistaken.

That would be a local enforcement issue rather than part of the national Immigration law. However it is part of the law that immigration officers have the right to demand additional documents. They are after all police and not our friends. If it came out that you were just recycling the same money and didn’t really have the 65k income , would there be a big problem? I assume there would but of course they might never ask.

[OJAS]

3 hours ago, Exploring Thailand said:

Isn't there any requirement that you have documents proving that the income is from sort of pension? I've read differing opinions on this.

 

I seem to remember reading that some people wanted to use the 65k method  by transferring non-pension funds every month, but they ran into some kind of problem, maybe I'm mistaken.

An amendment to Police Order 138/2557 (downloadable at item 18 in the pinned "Laws, regulations, Police Orders, etc" thread) only requires evidence in the form of "a letter of certification on deposit in the bank in Thailand and bank statement showing money transfer from overseas every month for the past 12 months" to be provided. However, a number of offices do also request the provision of pension-specific source documents. I strongly suspect, based on personal experience, that whether you're asked for such source documents depends on which side of the bed the officer you deal with got out of that morning. Last year I was asked for these documents at Rayong, but this year I wasn't! Go figure!! ????

Edited September 7, 2021 by OJAS

[Exploring Thailand]

3 minutes ago, OJAS said:

I strongly suspect, based on personal experience, that whether you're asked for such source documents depends on which side of the bed the officer you deal with got out of that morning. Last year I was asked for these documents at Rayong, but this year I wasn't! Go figure!! 

Just another of the frustrations of dealing with officialdom while living here. For me that effectively rules it out.

[ubonjoe]

5 minutes ago, Jingthing said:

That would be a local enforcement issue rather than part of the national Immigration law.

Actually it does state it in the amendment to immigration order 138/2557 clause 2.22.

 

 

[Exploring Thailand]

9 minutes ago, Jingthing said:

That would be a local enforcement issue rather than part of the national Immigration law. However it is part of the law that immigration officers have the right to demand additional documents. They are after all police and not our friends. If it came out that you were just recycling the same money and didn’t really have the 65k income , would there be a big problem? I assume there would but of course they might never ask.

For me, it's a risk I'm not prepared to take. If they stated clearly (some hope) that you simply have to have transferred 65k per month, then I might use this option. I wouldn't do the recycling. As it is, the best method for me will be an OA with bi-annual trips home, once the quarantine requirements have been removed.

[OJAS]

59 minutes ago, Lite Beer said:

It is if your Thai Wife works and chips in with the expenses.

Maybe you need a new Wife.

Don't think I'll be doing this. I need all the assistance which she and her family can provide me in disposing of the 65k I'm required to transfer each month from my UK account courtesy of Wise!????

[OJAS]

7 minutes ago, Exploring Thailand said:

As it is, the best method for me will be an OA with bi-annual trips home, once the quarantine requirements have been removed.

In which case you'll then have the dreaded mandatory 400k/40k health insurance policy requirement to have to contend with. Easier said than done in practice, I suspect, to take out acceptable policies in our home countries in view of certification requirements which necessitate insurers being fully au fait with the provisions of some obscure Thai Cabinet resolution!

[Jingthing]

27 minutes ago, ubonjoe said:

Actually it does state it in the amendment to immigration order 138/2557 clause 2.22.

 

 

I stand corrected. 

[EricTh]

On 9/3/2021 at 11:43 PM, Barley said:

Ok, I guess I messed up then!

 

My extension was granted 5 Aug 2021 until 29 Aug 2022.

 

I withdrew 380.000 last week, thinking I would be fine with 400K for sure.

 

I was thinking I could withdraw it all until a few weeks before applying again.

 

So what are my options now?

 

 

The option is that you won't be able to renew next year. So you have to apply for a new non-O visa and start all over again.

 

 

 

 

 

[skatewash]

2 minutes ago, OJAS said:

In which case you'll then have the dreaded mandatory 400k/40k health insurance policy requirement to have to contend with. Easier said than done in practice, I suspect, to take out acceptable policies in our home countries in view of certification requirements which necessitate insurers being fully au fait with the provisions of some obscure Thai Cabinet resolution!

And that's why I'll continue to let the 800k languish in Krungsri Bank's Mee Tae Dai account earning a paltry 1.00% APR interest.  The list of things I don't have to do solely for the purpose of fulfilling my immigration responsibilities is a long one.  I don't have to travel, I don't have to shop for promotional interest rate fixed deposit accounts and move money around, I don't have to file a Thai income tax return to get my withheld interest back from my Thai bank,  I don't have to remember to transfer a specific amount of money every month into Thailand, I don't have to shop around for expensive health insurance that meets arbitrary Thai immigration requirements (400,000 inpatient and 44,000 outpatient coverage), I don't have to satisfy immigration enquiries into where my money comes from, and I can bring into Thailand money to live on when I want and how I want.   In other words, life is simple, it's basically on autopilot immigration-wise, and I have a high degree of confidence in being able to get my retirement extension every year like clockwork with no surprises.  And for seven months of the year I have 400k baht to use for emergency cash reserve which allows me to keep relatively little other cash for this purpose.  If and when I ever do decide to leave Thailand I'll have 800,000 baht to help with the relocation expenses.

The cost to me of doing this I reckon is about 64,000 baht each year as that represents the 8% more of the 800k I could have received if the money were instead still invested back in the US rather than in a Thai bank (i.e., lost opportunity cost).  So it costs me roughly $2,000 USD for the retirement extension to stay in Thailand for another year, discounting the 1,900 baht I actually pay for the extension of stay, and the 200-300 baht I pay for the bank letter and bank statement.  Doesn't seem like such a bad deal to me.  As far as I can tell everything I'm doing is by the book, I don't have to skulk around when I go to immigration and I don't have to pay an agent to do my skulking for me.